It's never been easier for your customer to pay you.
In the digital age we have the options of instant card payments, online credit card payments, modern Direct Debit solutions and even direct payment gateways like Stripe and PayPal.
So, why aren't you putting digital payment options on your online invoices?
Good question, huh?
Here are 5 reasons why ePayment options on your sales invoices make total sense.
In the digital age we have the options of instant card payments, online credit card payments, modern Direct Debit solutions and even direct payment gateways like Stripe and PayPal.
So, why aren't you putting digital payment options on your online invoices?
Good question, huh?
Here are 5 reasons why ePayment options on your sales invoices make total sense.
1. Customers love the convenience
Paying invoices is no-one's idea of fun. So the easier you make it for your customers to pay you, the more their finance team will love your business.
If your cloud accounting has an online invoicing function, it's easy to add a payment button directly to your invoice and link it to the payment gateway of your choice. Being able to click a 'Pay Now' button in your online invoice saves your customer time and removes a lot of the hassle of managing their purchase payments.
If your cloud accounting has an online invoicing function, it's easy to add a payment button directly to your invoice and link it to the payment gateway of your choice. Being able to click a 'Pay Now' button in your online invoice saves your customer time and removes a lot of the hassle of managing their purchase payments.
2. You get paid quicker, improving cash flow
Instead of waiting for checks to clear or transfers to appear, ePayments come through straight into your bank account.
And if you're using cloud accounting, like QuickBooks Online or Xero, your customer's payments will be pulled through in real-time using your direct bank feed. That doesn't just speed up the visibility of your payments; it also gives your cash flow a significant boost by upping your overall income for the month.
And if you're using cloud accounting, like QuickBooks Online or Xero, your customer's payments will be pulled through in real-time using your direct bank feed. That doesn't just speed up the visibility of your payments; it also gives your cash flow a significant boost by upping your overall income for the month.
3. Your customer’s details are more secure
Are you running a service business where customers sign up to a monthly subscription or pay for a regular weekly service? ePayments are a secure and hassle-free way for customers to pay their subscriptions or regular bills.
If you accept online credit card payments, 'vaulting' your customer's card details means they only have to enter their information once – their card numbers are then securely stored to be used next time they pay.
In a recent blog by Jobber, in which Nimbus was quoted, vaulting is especially useful for service businesses with subscription-based models. Good examples of this are housecleaning or lawn maintenance businesses that perform work for a client on a weekly basis.
If you accept online credit card payments, 'vaulting' your customer's card details means they only have to enter their information once – their card numbers are then securely stored to be used next time they pay.
In a recent blog by Jobber, in which Nimbus was quoted, vaulting is especially useful for service businesses with subscription-based models. Good examples of this are housecleaning or lawn maintenance businesses that perform work for a client on a weekly basis.
4. It speeds up your financial admin
The process of working through your bank statements to match payments to invoices can take a whole chunk out of your business day. So anything that speeds up that process gives you back more time to focus on running the company.
If you combine the benefits of cloud accounting, direct bank feeds, online invoicing and ePayments, your financial admin time will be slashed.
Invoicing is faster, payments arrive more quickly in your account and your bank reconciliation becomes an automated process, with your accounting software suggesting the transaction to match at the click of a button.
If you combine the benefits of cloud accounting, direct bank feeds, online invoicing and ePayments, your financial admin time will be slashed.
Invoicing is faster, payments arrive more quickly in your account and your bank reconciliation becomes an automated process, with your accounting software suggesting the transaction to match at the click of a button.
5. You spend less time chasing outstanding invoices
If you're offering customers traditional payment options, it's more than likely that a few will forget to pay you on time – or will conveniently pay you in the next month to help their own cash flow.
With ePayments, the transfer of funds is instantaneous, whether it's the customer clicking a payment button, or your software using vaulted credit card details to take the payment.
And that instant payment process means you spend far less time sending polite (but persistent) payment reminder emails, or making awkward phone calls to your customer's asking them to settle their bill.
With ePayments, the transfer of funds is instantaneous, whether it's the customer clicking a payment button, or your software using vaulted credit card details to take the payment.
And that instant payment process means you spend far less time sending polite (but persistent) payment reminder emails, or making awkward phone calls to your customer's asking them to settle their bill.
Talk to Nimbus about setting up ePayments
As cloud accountants, business consultants and Jobber Certified Advisors, we've seen first-hand how moving to ePayments can transform your cash flow and deliver an incredibly efficient way for your customers to pay you.
If you think ePayments are the right next step for your business, why not drop us a line and arrange a chat. We'd love to help you transform your payment processes and make late payments a thing of the past.
Find out even more great ideas for improving cash flow in this blog from Jobber.
If you think ePayments are the right next step for your business, why not drop us a line and arrange a chat. We'd love to help you transform your payment processes and make late payments a thing of the past.
Find out even more great ideas for improving cash flow in this blog from Jobber.